Not exactly, Fox TV networks will remain as with Fox news, Fox business and FX and most of the non sports cable shows too. They will restructure and launch under a new umbrella on the stock market. What Disney gets is the 20th Fox Movie Studios and a crap load of Fox regional sports stations. This was a move to bolster ESPN which is losing subscribers and to help corner the market. But another big thing Disney wanted was the rights to all of the Marvel Comic characters from the universe that 21st Century Fox held the rights to they did not own. They have the whole universe now.